COLUMBUS, Ohio — Lawmakers in both chambers of the Statehouse are proposing a path toward generating $1 trillion for Ohio by 2030. 

What You Need To Know

  • State lawmakers introduced plans for sister bills in the House and Senate with a path toward eliminating the state's income and commercial activity taxes by 2030 

  • Legislators say the move will encourage more businesses to set up in the state and boost the economy

  • Nine states, including Texas and Florida, do not tax residents on income

Tuesday morning, State Sens. George Lang and Steve Huffman joined State Reps. Adam Matthews and Brian Lampton to introduce their plans for removing state income and commercial activity taxes by 2030.

They say the move will encourage more businesses to set up in the state and generate additional sales tax revenue. The plans also include cashing in on the state’s natural gas resources. 

The lawmakers plan to bring parallel proposals into both chambers to go through the committee processes. Town hall meetings are also planned across the state for residents and business leaders to learn more about the proposals and offer feedback.